Strategy Directs Proceeds to USD Reserve Amid Flat BTC Holdings
Michael Saylor's company, Strategy, did not buy any Bitcoin this week despite its significant holdings of the cryptocurrency. Instead of purchasing more BTC, Strategy directed its proceeds from selling stock to its USD Reserve.
The company raised $466.7 million by selling 4.82 million Class A shares through its at-the-market offering program. This capital boost increased Strategy's USD Reserve to around $3 billion.
Strategy's Bitcoin holdings remain unchanged at 843,775 BTC after the week's transactions.